Location: Kansas City, MO | Metro: Kansas City, MO-KS HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,660 |
| 1 Bedroom | $1,800 |
| 2 Bedrooms | $2,040 |
| 3 Bedrooms | $2,670 |
| 4 Bedrooms | $3,190 |
| 5 Bedrooms | $3,700 |
| 6 Bedrooms | $4,144 |
| 7 Bedrooms | $4,476 |
| 8 Bedrooms | $4,700 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,670 | $596,796 | 0.45% | F |
| 4BR | $3,190 | $747,024 | 0.43% | F |
| 5BR | $3,700 | $950,839 | 0.39% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 66221 in fiscal year 2024 is set at $1,650. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 Housing Choice Voucher program. It's important to note that this is not the actual rent you will receive; rather, it's the benchmark used to determine the rent subsidy provided to tenants.
To put this into perspective, the local Zillow Observed Rent Index (ZORI) for the same area is $1,598. This means that the FMR slightly exceeds the average market rent in your area, which could be beneficial if you're looking to participate in the Section 8 program. The difference between the FMR and the ZORI suggests that there is a slight premium for landlords who accept vouchers, helping to offset administrative costs associated with the program.
In ZIP code 66221, 14.6% of the population are renters. This indicates a moderate demand for rental properties, but it also implies that there is competition among landlords. To succeed in this market, ensure that your property meets the necessary quality standards to attract tenants and qualify for the Section 8 program.
The median home value in the area is approximately $805,847. This high figure reflects the overall cost of acquiring a property in ZIP 66221. However, remember that the FMR applies specifically to rental units, so the cost of buying a home should not directly impact your decision to enter the Section 8 rental market. Instead, focus on the rental income potential and the cost of maintaining a property to meet the required standards.
Before proceeding with your first Section 8 rental, verify that your property complies with the Housing Quality Standards (HQS). These standards are designed to ensure that rental units are safe, decent, and sanitary. Failure to meet these criteria can result in disqualification from the program, even if you have a tenant ready to move in. Therefore, it's crucial to conduct a thorough inspection and make any necessary repairs to avoid issues later on.
In summary, the FMR of $1,650 offers a guideline for setting your rent within the Section 8 program, slightly above the local average of $1,598. With a 14.6% renter share, there is a steady demand for rental properties, though competition exists. The median home value of $805,847 highlights the overall cost of real estate in the area, but your focus should remain on ensuring your property meets HQS requirements for a successful entry into the Section 8 market.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.